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Morgan Stanley to price participation notes linked to four currencies
By Angela McDaniels
Tacoma, Wash., Aug. 1 - Morgan Stanley plans to price 0% currency-linked participation notes due Feb. 12, 2013 linked to the performance of a basket of currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Australian dollar, the Indonesian rupiah, the Malaysian ringgit and the South Korean won.
For each $1,000 principal amount, the payout at maturity will be the greater of (a) $1,060 plus the basket return, which could be positive or negative, and (b) $60.
The notes (Cusip: 617482SC9) are expected to price Aug. 5 and settle Aug. 12.
J.P. Morgan Securities LLC is the dealer. Morgan Stanley & Co. LLC is the agent. JPMorgan Chase Bank, NA will act as placement agent for certain sales.
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